Montfort Capital Partners Buys Austin-Area Storage Facility
- Jan 09, 2020
Montfort Capital Partners has purchased Kyle Parkway Self Storage & Mini Offices, a 41,283-net-rentable-square-foot facility in Kyle, Texas. Marcus & Millichap’s San Antonio-based office arranged the sale on behalf of the seller, a private investor.
The facility occupies 4.3 acres at 5141 Cromwell Drive, adjacent to a cluster of retailers such as Target, Walmart Supercenter and Lowe’s Home Improvement. The storage asset is just off Interstate 35, roughly 25 miles from downtown Austin. Additionally, the facility is situated near residential areas; there are approximately 2,500 rental units within a 3-mile radius, according to Yardi Matrix.
Constructed in 2015, the six-building storage facility encompasses a total of 305 units ranging from 16 to 300 square feet. The asset also features seven mini offices and 23 outdoor parking spaces. Other characteristics of the buildings include climate control, drive-up access, gated entry and security cameras.
Marcus & Millichap’s Jon Danklefs arranged the transaction. In December, the brokerage firm’s Fort Worth-based office arranged the sale of an 83,850-square-foot facility in Burleson, Texas.